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  • Life Sentence For Longshore In Shelton Double Homicide Case

    LongshoreSentence"Like many cases, these murders were the result of the defendant who, because they placed a higher premium on greed and drugs than human life, cruelly took two lives." This was the reasoning presented by Mason County Supreme Court Judge Toni Sheldon on Thursday as she sentenced Charles Longshore to life… Read More +

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  • Governor Proposes Capital Gains Tax For Washington

    inslee boeingThe governor is proposing a new capital gains tax to help address a projected state budget gap of more than $2 billion over the next two-year budget cycle. Gov. Jay Inslee says a new tax on the sale of stocks, bonds and other assets would raise nearly $800 million during the… Read More +

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  • Seahawks Sign K.J. Wright To Extension

    kjwrightThe Seattle Seahawks have signed linebacker K.J. Wright to a four-year extension, the team announced this afternoon. "In the offseason, we identified K.J. as one of our core players moving forward and aimed to keep him as a part of the Seahawks family for a long time," said Executive Vice President & General Manager John Schneider. "The timing of this signing gives us the ability to keep as many of our core players together as we possibly can.

    Read More
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Bad Fit? Men's Wearhouse Rejects Jos. A. Bank's Offer

b_250_0_16777215_00_images_obgrabber_2013-10_647e8d3654.jpgJustin Sullivan/Getty Images (NEW YORK) -- Would a combined Men's Wearhouse and Jos. A. Bank make for a good fit?On Tuesday, when the latter confirmed it had offered to buy the former, the question hung briefly in the air. In a letter dated Sept. 18 but released on Wednesday, Robert Wildrick, chairman of Jos. A. Bank, told Men's Wearhouse CEO Douglas Ewert he was offering to buy all outstanding shares of Men's Wearhouse for $48 cash per share, or $2.38 billion in total, saying that he thought the two would make "ideal partners."

"The strategic wisdom of this transaction is compelling," declared Wildrick.  "By combining our two companies, we can together create the best men's apparel and sportswear designer, manufacturer and retailer in the U.S."

The combined companies, he said, would capture "operating synergies."

On Wednesday, however, Men's Wearhouse gave Jos. A. Bank the brush-off.  It rejected the offer as too little, saying in a statement that the deal significantly undervalued Men's Wearhouse's prospects.

Ewert said in the Men's Wearhouse statement that he and his board were confident that their recent actions, including their acquisition of boutique brand Joseph Abboud, had left the company well-positioned.

Howard Davidowitz, chairman of New York-based Davidowitz & Associates, a national retail consulting and investment banking firm, has been watching retail acquisitions succeed or fail for 40 years.  He shrugged off Men's Wearhouse's rejection as preliminary and pro forma.

"It's the job of the board to maximize price," he said.

He expected negotiations to continue, with Men's Wearhouse jockeying to get more money.

Copyright 2013 ABC News Radio

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